Caxton Associates LP: Q3 2022 vs. Q4 2022 13F Holdings Comparison Reveals Optimism and Reevaluation

Caxton Associates LP Q3 2022 vs. Q4 2022 13F Holdings Comparison

Caxton Associates LP, a New York-based hedge fund founded by Bruce Kovner, recently released its third quarter 2022 13F filings. The filing shows the hedge fund's holdings as of the end of the third quarter. 13F filings are a quarterly report filed by institutional investment managers with at least $100 million in assets under management. In these filings, firms are required to disclose their equity holdings as of the end of the quarter. These reports provide valuable insight into institutional investment behavior and often generate significant interest from individual investors.

This year, Caxton Associates LP has made some significant changes to its holdings in the fourth quarter of 2022. The latest 13F filing shows the hedge fund has increased or decreased its stakes in various companies compared to its holdings at the end of the previous quarter. Let's take a closer look at some of the changes in holdings of this fund as disclosed in the 13F filings.

Increased Positions

One of the significant changes the filing shows is the addition of 1.35 million shares of the SPDR S&P 500 ETF TR (SPY), valued at $518,724. This move reflects Caxton Associates LP's bullish stance on the stock market's future prospects. The fund's position in Pfizer Inc. (PFE) also saw an increase of 17.5% with the addition of 10,836 shares, valued at $21,886.

Caxton Associates LP has also increased its holdings in Visa Inc. (V), which makes up 5.6% of its portfolio. The fund purchased an additional 64,461 shares, valued at $14,583, reflecting a 1,332.5% change from its previous stake. The fund also purchased an additional 8,940 shares of Edwards Lifesciences Corp. (EW), valued at $1,671, reflecting an increase of 16.3%.

Decreased Positions

One of the most significant reductions in the fund's portfolio is its stake in Apple Inc. (AAPL). Caxton Associates LP sold more than 12,000 shares, representing a 100% reduction from its previous quarter's holdings. Amazon.com Inc. (AMZN) was another high-profile exit from Caxton's portfolio. The fund sold more than 236,000 shares, representing a 93.5% reduction from the previous quarter.

Another notable change is the fund's partial exit from its stake in Micron Technology Inc. (MU). Caxton Associates LP sold 89,388 shares, representing a 67.5% reduction from the previous quarter's holdings. The fund also sold half of its stake in the Select Sector SPDR TR (XLK) call option, representing a 47.6% reduction.

New Holdings

Caxton Associates LP added 115,519 shares of ISHARES TR (IBB) and 279,745 shares of Endeavor Group Hldgs Inc. (EDR) to its portfolio. The fund also initiated a new position in Akamai Technologies Inc. (AKAM), with 30,653 shares valued at $2,547.

Conclusion

Caxton Associates LP's decision to increase its holdings of the SPDR S&P 500 ETF TR (SPY) reflects the hedge fund's optimistic outlook on the broader market. The fund's purchase of additional shares of Pfizer Inc. (PFE) and Visa Inc. (V) also suggests confidence in these companies' prospects.

On the other hand, Caxton Associates LP's move to reduce its position in Apple Inc. (AAPL) and Amazon.com Inc. (AMZN) suggests that the fund is reevaluating its exposure to these technology giants. The partial exit from Micron Technology Inc. (MU) and Select Sector SPDR TR (XLK) call option also suggests the fund is confident in its risk management.

These 13F filings provide a glimpse into the changes hedge funds make to their portfolios every quarter. It's always interesting to observe how the positions in the portfolio change in response to changes in the economy, politics, and other factors. Caxton Associates LP's 13F filing provides interesting insights into this hedge fund's investment strategy and the decisions behind the changes in its holdings.